Vivaldi Capital Management LP grew its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 183.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,521 shares of the shipping service provider's stock after acquiring an additional 1,633 shares during the period. Vivaldi Capital Management LP's holdings in FedEx were worth $710,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of FDX. Transce3nd LLC acquired a new stake in shares of FedEx during the fourth quarter valued at about $26,000. City Holding Co. acquired a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new position in FedEx in the fourth quarter worth about $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms recently commented on FDX. UBS Group decreased their price target on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research note on Friday, March 21st. BMO Capital Markets decreased their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Citigroup decreased their price target on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and decreased their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, Wall Street Zen upgraded FedEx from a "hold" rating to a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $297.00.
View Our Latest Stock Analysis on FDX
FedEx Stock Performance
Shares of FDX traded down $1.96 during mid-day trading on Friday, reaching $216.85. 1,480,515 shares of the company's stock traded hands, compared to its average volume of 1,819,249. The business's 50-day moving average price is $220.59 and its 200-day moving average price is $254.80. The stock has a market capitalization of $51.96 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 EPS. Equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.
About FedEx
(
Free Report)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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